Wolf Richter

Putin Liquidates State-Owned Media Groups, Tightens Stranglehold On Survivors (As Other Governments Watch Enviously)

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Vladimir Putin issued decrees that liquidate RIA Novosti, a state-run news agency with reporters in 45 countries, publishing in 14 languages including English, and too much of a mind of its own.  And he is building a formidable propaganda machine. Other governments watch enviously.

Silicon Valley Frenzy: Big Bucks, Big Data, and Spying

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The government spy-services marketplace, part of Big Data, is juicy. Investors clamor to get in on it. Scores of startups have sprung up. The hottest one is Palantir. Its valuation jumped 50% in three months – to $9 billion! Its technologies, designed for the CIA to track terrorists, have transitioned to track you and me.

Microsoft Protests NSA Taps (I Hear The Crinkly Sounds Of A Bag Being Pulled Over My Head)

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That the NSA might have tapped into Microsoft’s “cloud” services, along with Google’s and Yahoo’s, turned into a publicity nightmare. Now Microsoft, which collaborates tightly with the NSA and other agencies on a host of projects, counter-attacks. With very mixed results.

Germany’s Complex Export Religion In One Chart

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Today we got another morsel from the German export smorgasbord, along with a beautiful long-term chart from the German statistical agency that says it all.

Why Bitcoin Is Such Dizzying Fun

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Even as the world was still desperately trying to figure out what exactly Bitcoin is, it was inducted into the Wall Street hype factory today by an analyst who touted it as the best thing since sliced bread – just when all heck was re-breaking out.

How Crazy Is The Auto Financing Frenzy?

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A “positive spiral effect?” Lenders are closing their eyes, sales are soaring, risks are piling up, auto loan balances jumped 15% in 12 months to an all-time high, and repossessions in the subprime segment more than doubled.

Growing Expectations Of TBTF Bank Creditor Bailouts Tighten Their Tentacles Around Taxpayers

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One of the few rebellious Fed heads, Richmond Fed President Jeffrey Lacker, fired a salvo when testifying before the House Judiciary Committee. He hit Wall Street risks covered by implicit government guarantees in the size of America’s GDP.

Strung-out Consumers, Desperate Retailers, Crummy Sales

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Tally: 7 deaths, 90 injuries from shootings, stabbings, tramplings, fights, pepper sprayings…. “Only in America people trample each other for sales exactly one day after being thankful for what they already have,” a tweet explained. It’s been tough for retailers too.

Unemployment Crisis Hits Economic Wunderkind Austria

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In Eurostat’s “harmonized” unemployment rates for EU Member States, Austria is the glory land for job seekers: 4.8% unemployment, in first place, a universe apart from Spain (26.7%) and Greece (27.3%). But this “harmonized” rate is bologna. Austria is facing a growing crisis.